Merrill Lynch preparing for a few billion more in write-downs

Well, at least their previous CEO Stanley O'Neil still has his $160 million thank-you gift for his efforts. It's only fair since he was at the helm during the period of massive failures by the bank. I'm sure that he is very, very, very sorry about your losses. With this new announcement, they are going to write-down at least $16 billion, probably more. See, in the banking industry, you are judged and compensated based on your success. You should have seen what O'Neil would have made if Merrill didn't lose billions! Fair is fair, after all.